In 1929, Jenő Bory received the Arnold Ipolyi Award for sculpting the statues of the Bishop's Fountain. The design of the monument itself and the statues of the bishops to be placed on it sparked a series of debates in the contemporary press.

In 1930, on February 12, Jenő Bory addressed skeptical commenters in a local newspaper, explaining the reasoning behind each bishop featured on the artwork: Astrik represents the Roman Catholic Holy Mother Church as the pillar of the kingdom, Gerard (Gellért) symbolizes the martyred church, Maurus (Mór) represents the teaching church, and Adalbert embodies the missionary church. The fountain was erected on June 19, 1928, though debates were still ongoing at the time regarding which direction the knight at the top should face. No formal inauguration ceremony was originally planned, but on the evening of June 23, the band of the 3rd Honvéd Infantry Regiment played open-air music in the square. At nine o'clock sharp, the bells of the Cathedral rang out, the fountain's lights illuminated, and water began to flow through the power of an electric motor.

Following its erection in 1928, the Bishop's Fountain remained in its original location for only nine years. It was dismantled in 1937 to make way for Ferenc Sidló's statue of Saint Stephen. The fountain was subsequently relocated to the square in front of the railway station, and after the war, the statues of the bishops were removed from it. Fortunately, the figures were preserved in the museum's collection. In July 1972, the fountain was moved to its current location.